{"id":362,"date":"2013-11-19T00:01:55","date_gmt":"2013-11-18T23:01:55","guid":{"rendered":"https:\/\/buzznigeria.com\/?p=362"},"modified":"2023-10-28T23:30:23","modified_gmt":"2023-10-28T22:30:23","slug":"naira-pounds","status":"publish","type":"post","link":"https:\/\/buzznigeria.com\/naira-pounds\/","title":{"rendered":"Naira to Pounds: How To Convert NGN to GBP with Today’s Exchange Rate"},"content":{"rendered":"
Nigerians who frequently travel to the United Kingdom for business, work, tourism as well as other commitments need to ensure that they have the right currency to enable them to transact in their host country without any problems. While Nigerians use Naira (NGN) as their official currency, those in the United Kingdom use Great Britain pounds (GBP).<\/p>\n
This means that you have to convert the money you intend to use during your stay in the UK to GBP. The exchange rates differ each second. The naira to pounds exchange rate that was five minutes ago might not be completely different from what it currently is. The good news is that the changes are minimal and not expected to make a huge difference in the overall outcome of the conversion.<\/p>\n
Foreign exchange is a moneymaking business and if you are not careful, you can fall victim to swindlers who will take advantage of your lack of information to swindle you. This is why it is important to know the right channel to follow to gain more advantage and to stay safe. Here is a detailed discussion on how to convert Nigerian naira to pounds.<\/p>\n
<\/a><\/p>\n Not much is required of you if you want to exchange naira that is rightfully yours to GBP. All you will need to avail are your valid passport and the amount of naira you wish to convert to pounds. Any other additional requirements depend on the international exchange institution with which you wish to transact.<\/p>\n See Also:\u00a0How To Open an Account with Zenith Bank Nigeria<\/a><\/strong><\/p>\n To convert Nigerian Naira (NGN) to British Pounds (GBP), you will first need to multiply the amount of Naira or Pounds you want to convert by the exchange rate. This will give you the equivalent amount for either of the currencies.<\/p>\n For example;\u00a0If the current exchange rate is 1 GBP to 1000 NGN and you want to convert 100 Pounds to Naira, your calculation would be 100 GBP * 1000 NGN = 100, 000 NGN.<\/p>\n This means that 100 British Pounds would be equivalent to 100,000 Nigerian Naira at the given exchange rate.<\/p>\n Also, if the exchange rate for 1 NGN is 0.0011GBP, and you want to convert 1000NGN to Pound sterling, your calculation would be 1000NGN *\u00a0 0.0011GBP = 1.1GBP<\/p>\n This means that 1000 Naira would be equivalent to 1.1 British Pound sterling\u00a0at the given exchange rate.<\/p>\n It is, however, important to note that exchange rates can vary slightly between different sources and institutions due to economic factors such as market demand, and the service provider\u2019s fees. So, it\u2019s important to check the rate from a reliable source and be aware of any potential additional charges.<\/p>\n Converting your money to pounds may be necessitated if you have to travel to UK and the countries that use GBP as their official currency. Here are the steps to follow in order to convert Nigerian naira to pounds without incurring any loses.<\/p>\n Many websites provide information about the prevailing foreign exchange rates. While they may be accurate, you will realize that whatever they indicate is not the true picture on the ground. The best place to find the information is the official website of the Central Bank of Nigeria (CBN). The information you get from this website will act only to guide you on the most competitive international exchange institutions to convert your Naira in.<\/p>\n <\/a><\/p>\n British pounds are much stronger than Nigerian naira. This means that huge amounts of naira will be needed to raise a couple of hundreds of pounds. You will need several millions of Nigerian naira, which may be difficult to handle. If you have to raise the money from different sources, make sure you do so in time for the day it will be converted.<\/p>\nRequirements for Converting\u00a0Nigerian Naira to Pounds<\/h3>\n
How Can I Convert Naira to Pounds and Pounds to Nigerian Naira?<\/strong><\/h3>\n
The Steps to Follow In Converting Nigerian Naira to Great British Pounds<\/strong><\/h3>\n
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Step 1: Find out the current exchange rates<\/h3>\n<\/li>\n<\/ul>\n
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Step 2: Ready the money you want to exchange<\/h3>\n<\/li>\n<\/ul>\n